Step Product Disclosures
̍ Step Visa Card is designed to help build positive credit history. Positive history is reported on and related only to your Step Visa card activity, subject to your account remaining in good standing, to Transunion®, Experian®, and/or Equifax®. Step users can build credit history for up to two years before turning 18. We do not have control over your credit scores generated by the credit bureaus. Even when we report positive credit history on your Step Visa card, your overall credit history and scores, as built by the credit bureaus, may be impacted by your financial activity outside of your Step Visa card (including any other Step loan products or other external activity).
͆ Average based on analysis conducted by TransUnion based on 594 Step users age 21-27 with a positive increase in their credit score within a 360 day period beginning from the first instance of Step reporting to the credit bureau.
̾ Your Step account is not an interest bearing product. The savings percentage is not interest, but instead earned as cash rewards funded by Step. The rewards, if calculated as an APY, would be 4.00%. This percentage is variable and may change over time. See terms for more detail. Requires Step Black enrollment, either through qualifying direct deposit or paid monthly membership.
̾̾ The national average rate referenced is from FDIC's published national average savings rate, accurate as of September 26th, 2024. See the FDIC website for more information: https://www.fdic.gov/resources/bankers/national-rates
˖ The rewards program is not offered by or affiliated with Evolve Bank & Trust. It is fully managed by Step. See terms here.
˖˖ 8% cashback on purchases up to a max of $6000 annually with select Step Black Partners. After hitting the max, you will continue to earn standard points multipliers (3% on dining/food delivery and charitable donations, 2% on subscriptions/entertainment, 1% on everything else). Requires Step Black enrollment, either through qualifying direct deposit or paid monthly membership.
* Step is a financial technology company, not a bank. Banking services provided by Evolve Bank & Trust, Member FDIC. The Step Visa Card is issued by Evolve Bank & Trust pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association.
** Visa’s Zero Liability policy does not apply to certain commercial card and anonymous prepaid card transactions or transactions not processed by Visa. Cardholders must use care in protecting their card and notify their issuing financial institution immediately of any unauthorized use. Contact your issuer for more detail.
*** The FDIC provides deposit insurance to protect your money in the event of a bank failure. Your deposits are automatically insured to at least $250,000 at each FDIC-insured bank. The standard maximum coverage is $250,000, unless otherwise agreed by Evolve in its sole discretion in limited circumstances, such as for eligible Step Black users, who are eligible up to $1,000,000. A Program Bank is a bank partner of Evolve that holds your deposits in an account opened at the bank on your behalf by Evolve. Evolve maintains the first $250,000 of your deposits, and all funds in excess of $250,000 are deposited on your behalf with one or more Program Banks, subject to the terms of the Bank Deposit Custodial Program here. Deposits to certain Program Banks designated as Priority Banks will be eligible for Federal Deposit Insurance Corporation (FDIC) insurance up to a total of $250,000 or such other greater amount (Insurance Eligibility Limit) as disclosed to you by Evolve. End users are able to opt out of Program Banks at their discretion, however, FDIC insurance may be reduced or forfeited.
͑ Ability to earn $500+ in the form of credits on purchases or statement credits for purchases with select Step Black partners, as will be advertised. Step does not provide, endorse, or guarantee any third-party product, service, information or recommendation listed above. The third parties listed are solely responsible for their products and services, and all trademarks listed are the property of their respective owners. Enrollment may be required.
̊ Early access to direct deposit funds depends on the timing of the submission of the payment file from your payer. While not guaranteed, Step generally makes these funds available on the day the payment is received, which may be up to 2 days earlier than the scheduled payment date.
ˆ A): Investment Products: May lose value | Not FDIC Insured B): Investing and advisory services for the purchasing and selling of stocks (including certain ETFs) are provided by Step Advisers LLC, a SEC-Registered Investment Adviser (“Step Advisers“). Investment accounts are held by DriveWealth, LLC, a member of the Financial Industry Regulatory Authority (FINRA) . We provide investment advisory services by making non-discretionary recommendations on a client's investment outlook. We do not manage client funds or hold custody of assets. The information presented herein is for educational purposes only and does not constitute investment advice or an offer to buy or sell any security, investment or other product. C): Securities (stock and ETF) services powered by Drivewealth, LLC. Your assets are custodied by Drivewealth, LLC, not Step, and is insured by the Securities Investor Protection Corporation (SIPC), up to $500,000 (including $250,000 for claims for cash). Your stock account is not FDIC insured. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Past performance, historical returns, future projections, and statistical forecasts are no guarantee of future returns or future performance. While we believe the information presented here to be accurate, we do not guarantee its accuracy or completeness. Any examples are hypothetical and for illustrative purposes only. Hyperlinks to third-party content are intended to provide additional perspective and should not be construed as an endorsement of any services, products, guidance, individuals or points of view outside Step.com. See additional risk disclosures here: https://step.com/policies/securities-risk-disclosures
͋ Eligibility is not guaranteed. Must be 18 years or older and successfully verify your identity. May be required to meet a minimum direct deposit amount. Subject to account review, including good standing status
͛ See here for more information: https://www.cnbc.com/2015/05/05/credit-invisible-26-million-have-no-credit-score.html
֕ Average point difference based on analysis conducted by TransUnion (TU) based on the national average of users ages 17-20 within the TU database and 3006 Step users within that age group. Step users with only Step trade line on their credit report were considered as part of this analysis.
֠ 721 is the median credit score at the time trade was first reported to Transunion for Step consumers ages 17-99. Only those consumers who had 1) only a Step trade and 2) a score available at trade first report date and a score post 30 days, 90 days, 180 days, 270 days and 360 days available for analysis are included.